I made a post on Facebook about bitcoin and someone replied wit this below.
Destroying bitcoin??? Thoughts?
"China could destroy it in one year should they so desire. If you understand how the actual technology works it would not be Beyond a nation state like China who has extremely significant chip fabrication ability to make the blockchain worthless through infinite double spends. In the past when I have talked to developers a blockchain technology none of them have been able to explain to me how to prevent it should a country really want to destroy Bitcoin.
" With nearly 100% of all mining technology coming from China, all that needs to be done is : #1 Cut the supply of ASIC miners, only going to the CCP | #2 - Save up the ASICs for 1 year, then doublespend on the network endlessly.
Easy peasy, bitcoin is worthless after a year worth of effort from a belligerent government.
OR you build a quantum computer with the ability to break HSA256 and start breaking into everyone's wallets. They still don't have a hotfix planned for quantum cryptography."
#bitcoin #btc
Michael Sparks ✨ 😶🌫️🗽⚡
npub168…q68qx
2023-07-03 19:15:00
Author Public Key
npub168u2cl8m4s9htdym5yref7tpkghw96lngc0d8cxqyc400f02sdjs3q68qxPublished at
2023-07-03 19:15:00Event JSON
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"content": "I made a post on Facebook about bitcoin and someone replied wit this below. \n\nDestroying bitcoin??? Thoughts? \n\n\"China could destroy it in one year should they so desire. If you understand how the actual technology works it would not be Beyond a nation state like China who has extremely significant chip fabrication ability to make the blockchain worthless through infinite double spends. In the past when I have talked to developers a blockchain technology none of them have been able to explain to me how to prevent it should a country really want to destroy Bitcoin.\n\n\" With nearly 100% of all mining technology coming from China, all that needs to be done is : #1 Cut the supply of ASIC miners, only going to the CCP | #2 - Save up the ASICs for 1 year, then doublespend on the network endlessly.\n\nEasy peasy, bitcoin is worthless after a year worth of effort from a belligerent government.\n\nOR you build a quantum computer with the ability to break HSA256 and start breaking into everyone's wallets. They still don't have a hotfix planned for quantum cryptography.\"\n\n#bitcoin #btc \n",
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